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Barchart
Barchart
Rich Asplund

Strength in Brazil Sugar Production Undercuts Prices

Brazil London NY India USDA Thailand Unica

October NY world sugar #11 (SBV25) today is down -0.19 (-1.16%), and October London ICE white sugar #5 (SWV25) is down -4.20 (-0.90%).

Sugar prices are under pressure today, with NY sugar sliding to a 1-week low and London sugar falling to a 3.5-week low.  Signs of stronger sugar production in Brazil are weighing on sugar prices after Unica on Thursday reported Brazil's Center-South sugar output in the first half of July rose +15% y/y to 3.4 MMT.  Also, the amount of sugarcane being crushed for sugar by Brazil's sugar mills has increased to 54% from 50% the same time last year.

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